The frequency with which scammers are setting up ‘investment sites’ calls for concern because there are so many gullible people who believe that they are actually making investments by sending money to scam sites such as Stablemining.biz.
These schemes would not make plain to their patrons that they do nothing other than use deposits made by new recruits to pay older participants in systems that are unsustainable.
According to the site, Stablemining.biz is
“an innovative technology designed to open the possibility of attracting a significant number of people to the process of digital currency mining while minimizing costs for investors.”
In reality, there are no bitcoin miners that go around asking people to get involved in mining. Bitcoin mining is an energy intensive activity that is not meant for everyone. So when you find any site that has created an affiliate program inviting deposits from random people as Stablemining.biz does, you’re dealing with a Ponzi scheme.
Built to Entice the Greedy
An analysis of the site shows that it is just another scam site built by people that know nothing about bitcoin mining but eager to have many investors sending them bitcoin in the guise of mining as seen with the statement:
“With STABLE MINING LTD you can forget about the necessity to form a substantial starting capital, a deep and multi-stage study of the technical aspects of the production of digital code, the allocation of sufficient free space for the technical equipment installation. Now mining requires only a personal computer, a minimum deposit and a reliable partner, who is ready to provide their services to everyone.”
Ignorant About Bitcoin Mining
You don’t need expertise in mining to realize from the statement above that the people behind the site have no inkling what they are talking about as far as bitcoin mining is concerned. The rambling about free space, talking about mining using only a personal computer are all gibberish.
Everyone knows that there’s not a remote possibility that mining of bitcoin could be done on a PC, yet a so-called bitcoin mining company is claiming this is possible. What this site aims to accomplish by this is create the impression that they are involved in mining, then get people to send them money.
Most of the funds they realize would be used to pay initial investors who are encouraged to bring in other investors like all Ponzi schemes. The cycle continues until there’re no more new participants to recruit. The Stablemining.biz owner would at this point pack up and disappear with investors’ funds.
No Evidence of Mining Activities
Sometimes, I wonder how these scammers succeed in persuading people to send them coins even though it is obvious that none of these scams have what it takes to last. A business that has no product or service is practically not a business because they have no sure means of making profit.
No experienced miner would post this on its site:
“STABLE MINING LTD Team is working hard to ensure non-stop and efficient mining on the last-gen equipment. Our team of high skilled specialists is constantly working on purchasing equipment, its configuration and further maintenance, looking for the best locations all over the world to reduce energy consumption costs.”
What exactly is the meaning of “last-gen equipment”? the reason these people cannot even demonstrate rudimentary knowledge of mining is because they are not into bitcoin mining. Rather, this is a clear Ponzi scheme that collects money from new investors to pay older ones.
Targets Deposit and Referral
Like most Ponzi scams, Stablemining.biz won’t last long. The 23-day old scam is emphasizing on recruitment of new participants and deposits by older ones to sustain their scam. However, it is obvious that irrespective of its marketing efforts and that of its affiliates, they do not have the ability to sustain the scheme indefinitely because you don’t have enough people to sustain it.
Stablemining.biz investment plans
Like all ponzi schemes, Stablemining.biz offers outrageous investment plans. The minimum deposit for all plans is 0.001 BTC while the maximum deposit is 500 BTC.
Plan one offer 10% daily forever.
Plan Two, 400% for 30days.
Plan three, 900% after 60 days.
Plan four 1600% after 90 days.
Plan Five, 2400% after 120 days
Plan Six, 6000% after 240 days
The scheme also offers 3% reinvest bonus to encourage participants to keep using the platform. Every user of the platform should ask where all the money is coming from.
As a rule, if it is too good to be true, then you can be sure it’s not true. No miners share their profits to random people. None go out of their ways to use affiliates to get investors.
Scammers such as Stablemining.biz take advantage of people’s ignorance and greed to make them invest money in fake mining schemes. When new participants stop joining the scheme, the scammers quit and pull down the site. Anyone investing with Stablemining.biz does so at their own risk.
What do you know about stablemining.biz? Share your opinion in the comment box below. For the cloudmining service I recommend, check here.